ST. LOUIS (AP) — Cereal maker Post Holdings anticipates that its fiscal 2013 revenue will top Wall Street's expectations.
The St. Louis company, whose brands include Grape-Nuts and Honeycomb, foresees revenue between approximately $1.03 billion and $1.04 billion.
Analysts polled by FactSet predict $1.01 billion in revenue.
Post Holdings Inc. also said Wednesday that it plans on starting a private offering of $450 million senior notes due 2021. It expects to use net proceeds to help fund its acquisition of Dakota Growers Pasta Co. and for general corporate purposes.
Post announced in September that it was buying Dakota Growers from Viterra Inc. for $370 million in order to expand its food offerings. It also acquired nutritional supplement maker Premier Nutrition Corp. in August and the cereal, granola and snacks business of Hearthside Food Solutions in May.
The offering is not contingent on the acquisition closing. Post said that if the acquisition doesn't close the proposed offering's proceeds would be used for general corporate purposes.
Post Holdings shares closed at $42.51 on Tuesday. They are up 24 percent so far this year.